monday.com Ltd. (NASDAQ:MNDY) Given Average Rating of "Moderate Buy" by Brokerages

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-two brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $310.10.

A number of research firms have recently commented on MNDY. Oppenheimer raised their price target on monday.com from $275.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Barclays lifted their price objective on monday.com from $300.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Robert W. Baird boosted their price objective on monday.com from $265.00 to $270.00 and gave the stock a "neutral" rating in a report on Tuesday. The Goldman Sachs Group lifted their price target on shares of monday.com from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. Finally, Needham & Company LLC boosted their price target on shares of monday.com from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MNDY. Price T Rowe Associates Inc. MD increased its stake in shares of monday.com by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company's stock worth $714,781,000 after purchasing an additional 31,304 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of monday.com by 20.2% in the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock worth $270,299,000 after acquiring an additional 188,800 shares during the period. Jennison Associates LLC raised its stake in monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock valued at $202,905,000 after purchasing an additional 318,837 shares during the period. 1832 Asset Management L.P. lifted its holdings in monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company's stock worth $160,707,000 after purchasing an additional 170,800 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in monday.com by 2.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company's stock valued at $166,767,000 after buying an additional 14,304 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Price Performance

Shares of MNDY stock traded down $14.62 on Tuesday, hitting $260.59. The stock had a trading volume of 2,117,804 shares, compared to its average volume of 717,034. The business has a 50 day moving average of $279.07 and a 200 day moving average of $246.86. monday.com has a 12-month low of $150.10 and a 12-month high of $324.99. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 339.61, a price-to-earnings-growth ratio of 15.22 and a beta of 1.31.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.23. The company had revenue of $236.11 million during the quarter, compared to analyst estimates of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. As a group, research analysts expect that monday.com will post 0.5 earnings per share for the current fiscal year.

About monday.com

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.